BIL - Brambles

Chart Forum » Stocks - ASX: long term & fundamental » Archive through September 12, 2004 » BIL - Brambles

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stevo

Member

Post Number: 214
Registered: 01-2003

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Votes: 2


Thursday, September 02, 2004 - 09:25 am:

I would love to be able to bet on horses after they have left the starting gate.

I often get it wrong, but an 8% plus move and a rising trend ......

stevo

I hold BIL shares so obviously I am trying my hardest to ramp it up! :-)

chance

Member

Post Number: 266
Registered: 09-2002

Rating: N/A
Votes: 0


Thursday, September 02, 2004 - 07:52 pm:

I always appreciate your posts Stevo, like some of the other premiere posters on this forum who's names start with an S, thank you for taking the time and effort to let us know your views, and methods.

I have learnt heaps from you.

In this case I shan't be getting into BIL as I am saving my spare readies for an entry into WPL, GUD, RCD, RHC or OSH

Regards
chance

peterloh

Member

Post Number: 596
Registered: 03-2003

Rating: N/A
Votes: 0


Thursday, September 02, 2004 - 08:10 pm:

Chance,

Had a quick look at the weekly charts,excellent selection.

BIL is good too, Stevo but probably has to wait for retracement as it has run too hard in a short time.

Cheers,

Peterloh

-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

stevo

Member

Post Number: 215
Registered: 01-2003

Rating:
Votes: 1


Friday, September 03, 2004 - 08:52 am:

Peterloh
I find trying to buy on retracements pretty tricky. Any insights into this approach would be of interest.

The way it works for me would be;
1. I wait for the retracement, but it doesn't! or,
2. I buy on the retracement and it keeps going down!

Fortunately I have held BIL since June and don't have to try and tune an entry.

Back in June I bought after the stock moved 6.5% in a week. If I waited I could have possibly got in a little cheaper, $5.76 vs $5.91, but only if I had picked the very bottom of the retracement.

I would probably revert to buying a breakout in the end - for example this week - and then watch it retrace again.

So I just buy and be done with it! After all this is, hopefully, a long term trade and a few % is not worth worrying about.

stevo

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peterloh

Member

Post Number: 598
Registered: 03-2003

Rating:
Votes: 1


Friday, September 03, 2004 - 11:09 am:

Hi Stevo,

I trade BIL a short while ago and it did not fall into my category as a share to own.However this may change once I have the time to look into options and CFDs. Until I master the use of derivatives, I will stick to my lower price share.e mainly below $2 and some below $4 just for the % return but perhaps higher risk trade if we do not have a tight risk control.

Bil has great fundamentals. It was a great recovery stock. Unfortunately I missed the initially break out and had to contend with riding it some time later which see the best part of the profit gone.

Now coming to buying on retracement. Having picked an up trending stock, I would used candles, support and resistant levels for my approach. If it is retracing I will wait for a hammer or doji to wait for the reversal.If this happens on the support level, this is a further confirmation that the trend will reverse.

It is similar with the top reversal approach, where we see an evening star,a doji or hangman on the resistant line is an indication that it may start to retrace.

Like all charts, it is only a probability but it is better than working in the dark without any guidelines.

Cheers,

Peterloh

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